The Royal Institution of Chartered Surveyors (RICS) has announced the launch of an updated standard for home surveys, which aims to “increase consistency, transparency and competency across residential surveying in the UK”.
The new professional statement of mandatory requirements aims to highlight the importance and benefits of commissioning a home survey before purchasing property.
The RICS also hopes that this new standard will ensure that consumers fully understand the process of surveys, as well as the different levels of survey that are applicable to them.
The Home Survey Standard comes after calls from consumers and surveyors to make home surveys more accessible and simplified. RICS hope that the new standard will protect buyers and sellers through simplifying the language and process used, as well as standardising survey offerings.
The institute worked with members, stakeholders and leaders’ forums to collate the views of lenders and consumers. It also conducted consumer research to identify what consumers want to see included in their condition surveys.
The result was a professional statement that set out mandatory requirements for all RICS members.
The RICS said: “The statement will ensure consistency in meeting the changing needs of the market whilst improving the home buying and selling process.”
It added: “The new professional statement aims to provide a clear, flexible framework within which RICS professionals can develop their own services that consumers can trust, simplifying the home survey process for all.”
The statement will be effective and mandatory for all RICS members from June 2020.
Paul Bagust, RICS global property standards director, said: “As part of our commitment at RICS to promote and enforce the highest standards in the residential sector, we’ve worked with consumers, cross-industry stakeholders and practitioners to improve the home buying and selling process for all.
“The complete overhaul of home surveys with our new Home Survey Standard will bring vital standardisation and clarity to the process, where RICS professionals can work effectively to meet the changing needs of the market.”